Bruce Berkowitz on Why he Likes $BAC

Bruce Berkowitz’s Fairholme fund, is up almost 30%, after a disastrous 2011. Berkowitz’s fund under-performed in 2011 due to large positions in financials. With financials rallying this year, the pendulum has swung in the opposite direction. One of Berkowitz’s largest holdings is BAC. The stock is up close to 60% this year, after being down close to 60% in 2011. Below Berkowitz explains why he likes BAC: